UWM (NYSE:UWMC) Stock Price Down 2% Following Insider Selling

Shares of UWM Holdings Co. (NYSE:UWMC) traded down 2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $8.76 and last traded at $8.76. 99,800 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,632,659 shares. The stock had previously closed at $8.94.

Specifically, CEO Ishbia Mat sold 1,200,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.45, for a total value of $10,140,000.00. Following the transaction, the chief executive officer now owns 171,520 shares of the company’s stock, valued at $1,449,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

UWMC has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their target price on shares of UWM from $7.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. Barclays increased their price objective on shares of UWM from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group lifted their target price on shares of UWM from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, August 8th. BTIG Research increased their price target on UWM from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, UBS Group boosted their price objective on UWM from $4.50 to $4.75 and gave the company a “sell” rating in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.39.

UWM Stock Down 3.5 %

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $813.37 million, a PE ratio of 283.67 and a beta of 1.63. The company’s 50 day moving average is $8.67 and its two-hundred day moving average is $7.51.

UWM (NYSE:UWMC) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The firm had revenue of $507.09 million during the quarter, compared to analysts’ expectations of $540.31 million. During the same period last year, the firm posted $0.11 EPS. On average, analysts anticipate that UWM Holdings Co. will post 0.28 earnings per share for the current year.

UWM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 19th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Thursday, September 19th. UWM’s payout ratio is 1,333.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. McAdam LLC increased its position in UWM by 16.0% in the second quarter. McAdam LLC now owns 12,721 shares of the company’s stock worth $88,000 after purchasing an additional 1,758 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of UWM by 8.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,757 shares of the company’s stock worth $168,000 after buying an additional 1,991 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of UWM by 63.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,633 shares of the company’s stock worth $55,000 after buying an additional 2,952 shares during the last quarter. Parallel Advisors LLC raised its position in shares of UWM by 44.3% during the 4th quarter. Parallel Advisors LLC now owns 9,820 shares of the company’s stock valued at $70,000 after buying an additional 3,014 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of UWM by 96.4% in the 2nd quarter. CWM LLC now owns 6,471 shares of the company’s stock valued at $45,000 after acquiring an additional 3,177 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.